UAL’s Creditors Endorse Reorganization Plan
From Bloomberg News
UAL Corp.’s creditors approved the airline’s plan to repay debt after three years under bankruptcy protection, paving the way for the company to emerge from Chapter 11 in February.
The results allow the Elk Grove, Ill.-based company, the parent of United Airlines, to seek approval of the reorganization plan from U.S. Bankruptcy Judge Eugene Wedoff in Chicago. Wedoff is scheduled to consider the request Jan. 18.
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